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As much as you hope it doesn’t happen, a business in crisis can happen. And you should prepare. You never know how or why something occurs. Having a crisis management plan that you can immediately set into motion will go a long way to easing concerns if anything arises. Some businesses get caught up in an issue that suddenly grabs the collective attention on social media. Others end up with internal power plays and struggles, even rumors that might not make the news cycle or social networking feeds. Still, it becomes known around town can harm a business.

So, how should a business owner leading a company through a crisis move forward?

Write and Adhere to Business Policies

Operate with the highest ethical standards and manage your business by following the law and regulations. Also, adhere to excellent business and customer service practices. The reality is that if you operate with integrity and with attention to excellence, the chances that your business gets caught in a crisis diminishes significantly. Therefore, the best way to move through a business in crisis is to prevent disaster in the first place. Ensuring and observing written financial management, conflict of interest, data protection, social media, management, personnel, and operational policies also help your company steer clear of potential crises.

Be Prepared to Resign if Warranted

In today’s world, the government, media, and the general public expect leaders from all different sectors to assume their respective roles with thoughtfulness, transparency, organization, and clarity. Depending on the crisis, this may mean that executives and staff get asked to resign or get fired. If you’re your company gets entangled in an emergency, individuals need to prepare. They have to assume this consequence depending on their role in the problem. In other words, they may have to relinquish the reins of leadership.

Be Transparent in Your Company

Business owners and leaders need to lead and stay ahead of a crisis, which is part of their responsibilities. It also means they must be open concerning what may be discovered about the crisis. It is crucially important to be transparent. The public has seen it time and time again. When a crisis hits, the cover-up is often worse than the act itself. The best way to ensure this does not happen, which only invites more difficulties, is to be proactive and transparent. The critical approach should be transparency and communication, early and often with your constituents. And that may mean your team, customers, and the public.

Be Immediate for Your Business

In today’s world, a crisis can strike and grow into a raging fire within hours. Social media and the 24-hour news cycle mean that the public is always on and updated with developments. Even rumors can destabilize a company in short order. Therefore, when a business is amidst a crisis, it should actively monitor additional risks beyond the original situation because stories can have multiple threads. Also, a company must work on managing the problem legally if necessary. And, of course, you need to do it in the court of public opinion, moment by moment. One tweet or post on social media can go around the world in a heartbeat, and immediacy––especially with the support of talented crisis management professionals––is essential if you have a situation akin to a slow-release crisis that is quickly snowballing.

Companies should continually work to ensure that they maintain the highest business standards in all aspects of the company from the outset, including if there is an unexpected crisis. By providing reliable, robust, and effective leadership, companies can develop and potentially even thrive when the current of the waters becomes unexpectedly strong.

 

 

Author of “Not Your Father’s Charity: Grip & Rip Leadership for Social Impact” (Free Digital Download)

© 2018 Wayne Elsey and Not Your Father’s Charity. All Rights Reserved.